70% of apartments released in New Futura Phase 2 sold

LUXURY condo New Futura has seen 21 of 30 units released over the weekend at its 60-unit North Tower snapped up at an average selling price of over S$3,500 per square foot (psf), City Developments Limited (CDL) said in a statement on Tuesday.

A majority of the units during this second phase soft-launch were bought by permanent residents and foreigners, and these were the larger apartments of up to S$10 million each, said CDL, which started previews on May 11.

CDL has also seen what it called "robust demand" for New Futura's South Tower which was soft-launched in January under its Phase 1, it said in a statement on Tuesday.

At the 64-unit South Tower, 62 apartments or 97 per cent have been sold with an average selling price (ASP) of over S$3,350 psf. This included the 7,836 square feet (sq ft) penthouse which sold for S$36.28 million or S$4,630 psf.

72 per cent of the buyers were foreigners and permanent residents, mainly from Asia including China, Indonesia, Malaysia and South Korea.

North Tower's penthouse, also the same size as the one at South Tower is still available for sale.

Totalling 124 units in all, the 87,034 sq ft freehold New Futura is located on Leonie Hill Road in Singapore's prime District 9 and is designed by Skidmore, Owings & Merrill LLP.

Besides the two 5-bedder penthouses, it boasts 28 two-bedders between 1,098 to 1,367 square feet and 54 1,830 sq ft 3-bedders.

There are also 20 four-bedroom units at 2,250 sq ft and another 20 with higher ceilings in the dining area, which take up 2,691 sq ft.

All the units have private lift access, and the penthouses also come with a a 13-metre private pool, sauna and shower by the pool deck.

New Futura also has a two-level basement carpark with over 250 luxury and ultra-luxury lots, designed to be extra wide to accommodate super cars.

"The Singapore residential market has continued to show promising signs of recovery. Propelled by pent-up demand, sales volumes are strengthening and property prices are trending up especially for high-end projects with a strong value proposition," Chia Ngiang Hong, CDL's group general manager, said in a statement. "Foreigners are also returning to invest in Singapore's high-end property market given the city's attractiveness, economic stability, price recovery and value."

Adapted from The Business Time, May 16, 2018.